29 June 2017 08:05AM

Airports of Thailand - Still On a Rosy Runway

AoT’s earnings outlook remains positive for both the short and long term, based on improving Thai tourism numbers and upcoming projects that may trigger a net profit upgrade. The property rental fee hike for Suvarnabhumi Airport is not yet confirmed, but we expect it to have a limited impact on earnings. BUY, as we roll over our DCF-based FY18F TP to THB52.50 (from THB46.50, 12% upside). Strong earnings growth intact. Airports...

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